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CRE Pricing Remains Unchanged in February Following Modest Increase
The Green Street Commercial Property Price Index was unchanged in February, Newport Beach, CA-based Green Street announced Wednesday. The all-property index—a measure of pricing for institutional-quality commercial real estate—is down 7% over the past year and 21% since its March 2022 peak.
February’s flat month-over-month pricing followed a modest 0.3% increase in pricing seen in January. “Property pricing has stabilized over the past couple of months,” said Peter Rothemund, co-head of strategic research at Green Street. “Commercial real estate is now fairly priced relative to corporate bonds, so pricing should hold at current levels.”
As they did in January, office values reflected the steepest declines relative to a year ago and the recent peak. Apartment pricing ran second behind office in terms of pricing drops from the peak. The best results over the past 12 months and compared to the peak were posted by the lodging sector.
Pictured: Green Street headquarters.
- ◦Sale/Acquisition
